They recommend considering other payment methods to settle accounts.Â
Here are some tips to avoid being the victim of theft and other related crimes:
- Carry as little cash as possible
- Consider the convenience of paying your accounts electronically (consult your bank to find out about other available options)
- Consider making use of cell phone banking or internet transfers or ATMs to do your banking
Tips for small businesses which are cash based and need to deposit money on a regular basis:
- Alternate the days and times on which you deposit cash
- Never make your bank visits public, even to people close to you
- Do not openly display the money you are depositing while you are standing in the bank queue
- Avoid carrying money bags, briefcases or openly displaying your deposit receipt book.
- It’s advisable to identify another branch nearby that you can visit to ensure that your banking pattern is not easily recognisable or detected
- If the amount of cash you are regularly depositing is increasing as your business grows, consider using the services of a cash management company
- Refrain from giving wages to your contract or casual labourers in full view of the public rather make use of wage accounts that can be provided by your bank
- Refrain from driving to the bank in your company branded vehicle on a typical ‘pay day’
- Consider arranging for electronic transfers of wages to your contract or casual labourers’ personal bank accounts
Here are some tips for people who carry stokvel money:
- Refrain from making cash deposits of club members’ contributions on high risk days (e.g. Monday after month end)
- Ensure persons depositing club cash contributions or making withdrawals are accompanied by another club member
- A stokvel, savings club or burial society can arrange for members to deposit cash directly into the club’s account instead of collecting cash contributions
- Arrange for the club’s pay-out to be electronically transferred into each club member’s personal account or accounts of their choice
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